Diana: Sale of Capesize Bulker; New Time Charter Contract for m/v Maia

mv Sideris_Diana

Diana Shipping announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2002-built vessel “Norfolk”, with delivery to the buyer latest by February 25, 2020, for a sale price of US$9.35 million before commissions.

The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Aquavita International S.A., for one of its Kamsarmax dry bulk vessels, the m/v Maia. The gross charter rate is US$11,200 per day, minus a 5% commission paid to third parties, for a period of minimum fourteen (14) months to about sixteen (16) months. The new charter will commence today.

The “Maia” is a 82,193 dwt Kamsarmax dry bulk vessel built in 2009.

This employment is anticipated to generate approximately US$4.7 million of gross revenue for the minimum scheduled period of the time charter.

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